Beyond Meat’s stock is experiencing significant gains following the announcement of a collaboration with Taco Bell to create new menu offerings.

The company’s stock increased by $17.13, representing a 13.67% rise to $142.48, and continued to climb during midday trading after Taco Bell revealed its plans to incorporate Beyond Meat into the development of new menu items slated for testing within the coming year.

This move by Taco Bell, a subsidiary of Yum Brands, represents a shift from the Mexican-inspired fast food chain’s previous strategy of independently developing new vegetarian options.

Julie Felss Masino, Taco Bell’s President of North American Operations, stated in a 2019 CNBC interview, “We’ve explored the market. We’ve held discussions with both Beyond and Impossible – our head of innovation has connections with everyone in the field. However, we are proud of our 57-year history of offering vegetarian choices.”

The company now seeks to expand its offerings with additional alternative proteins from the Southern California-based provider. “We have consistently been at the forefront of vegetarian cuisine, and this year, we are introducing even more meatless choices that will appeal to vegetarians, those interested in plant-based options, and even traditional meat consumers,” explained Liz Matthews, Taco Bell’s Global Chief Food Innovation Officer. 

Taco Bell highlights that it currently features over 30 vegetarian ingredients on its U.S. menu; however, a lack of protein alternatives had become apparent as competitors increasingly embraced the growing trend of meat substitutes.